UBS Group AG Raises Position in Extra Space Storage Inc. (NYSE:EXR)

UBS Group AG lifted its holdings in shares of Extra Space Storage Inc. (NYSE:EXR) by 25.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 526,274 shares of the real estate investment trust’s stock after purchasing an additional 108,151 shares during the quarter. UBS Group AG owned about 0.25% of Extra Space Storage worth $84,378,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S raised its holdings in Extra Space Storage by 59.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 5,543 shares of the real estate investment trust’s stock valued at $889,000 after buying an additional 2,060 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Extra Space Storage during the 4th quarter valued at $224,000. Norges Bank purchased a new stake in Extra Space Storage during the 4th quarter worth $1,022,811,000. ING Groep NV increased its holdings in Extra Space Storage by 30.7% in the 4th quarter. ING Groep NV now owns 10,225 shares of the real estate investment trust’s stock valued at $1,639,000 after purchasing an additional 2,401 shares in the last quarter. Finally, Main Street Financial Solutions LLC purchased a new position in Extra Space Storage in the fourth quarter valued at about $328,000. Hedge funds and other institutional investors own 99.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on EXR shares. Barclays increased their target price on Extra Space Storage from $157.00 to $158.00 and gave the company an “overweight” rating in a research note on Monday. Scotiabank began coverage on shares of Extra Space Storage in a research report on Tuesday, February 13th. They set a “sector underperform” rating and a $131.00 target price on the stock. StockNews.com downgraded shares of Extra Space Storage from a “hold” rating to a “sell” rating in a research note on Saturday, March 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Extra Space Storage in a research report on Tuesday, January 30th. They issued a “hold” rating and a $141.00 price objective for the company. Finally, Evercore ISI cut their price target on Extra Space Storage from $145.00 to $139.00 in a research note on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $149.75.

Extra Space Storage Stock Up 0.2 %

EXR stock opened at $146.36 on Thursday. The firm has a market cap of $30.99 billion, a price-to-earnings ratio of 32.60, a PEG ratio of 3.50 and a beta of 0.76. Extra Space Storage Inc. has a 1-year low of $101.19 and a 1-year high of $164.99. The firm has a fifty day moving average price of $142.22 and a two-hundred day moving average price of $142.52. The company has a debt-to-equity ratio of 0.73, a current ratio of 0.15 and a quick ratio of 0.15.

Extra Space Storage (NYSE:EXR) last announced its quarterly earnings data on Tuesday, February 27th. The real estate investment trust reported $1.02 earnings per share for the quarter, missing analysts’ consensus estimates of $2.03 by ($1.01). The business had revenue of $797.77 million for the quarter, compared to the consensus estimate of $778.05 million. Extra Space Storage had a net margin of 29.10% and a return on equity of 6.76%. Extra Space Storage’s quarterly revenue was up 57.4% on a year-over-year basis. During the same period in the prior year, the company earned $2.09 EPS. Research analysts predict that Extra Space Storage Inc. will post 8.05 EPS for the current year.

Insider Buying and Selling at Extra Space Storage

In other news, EVP Gwyn Goodson Mcneal sold 1,350 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the completion of the transaction, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CMO Samrat Sondhi sold 2,048 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $146.46, for a total value of $299,950.08. Following the completion of the transaction, the chief marketing officer now owns 94,126 shares of the company’s stock, valued at $13,785,693.96. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gwyn Goodson Mcneal sold 1,350 shares of Extra Space Storage stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $145.00, for a total transaction of $195,750.00. Following the sale, the executive vice president now owns 37,028 shares in the company, valued at $5,369,060. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,532 shares of company stock worth $514,819. 1.36% of the stock is owned by insiders.

Extra Space Storage Company Profile

Extra Space Storage Inc, headquartered in Salt Lake City, Utah, is a self-administered and self-managed REIT and a member of the S&P 500. As of December 31, 2023, the Company owned and/or operated 3,714 self-storage stores in 42 states and Washington, DC The Company's stores comprise approximately 2.6 million units and approximately 283.0 million square feet of rentable space operating under the Extra Space, Life Storage and Storage Express brands.